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Posted: January 12, 2009
Eastern Union handles $30 million loan for two hospital buildings
Catholic Healthcare East, a firm that operates 33 hospitals, has purchased two hospitals containing 363,000 s/f. The state, considering one of the hospitals essential, agreed to lend $252 million, which was raised through state issued bonds.
Shaya Ackerman managing director of Eastern Union's N.J. office arranged a $30 million loan, a loan to cost non-recourse loan. The new owners plan to turn vacant space into medical office units.
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